Fund HoldingsKarpus Management, Inc.

Total Portfolio Value
$3.09B
Total Bought
$250.25M
Total Sold
$554.23M
Net Transaction
-$303.99M
Filing Period:
Securities
SharesValue ($K)
Q4 2024
Q1 2025
Change
Q4 2024
Q1 2025
Weight (%)
Change
DRUGS MADE IN AMERICA ACQ CRP: 4/28/2026; CASH: $10.05
ORD SHS
02,324,034+2,324,034023,2870.75%+23,287
VANGUARD INTL EQUITY INDEX FD ALLWRLD EX US198,928498,627+299,69911,42030,2470.98%+18,826
TAVIA ACQ CRP; TNT ACQ DT: 6/4/2026; CASH: $10.05915,0002,342,800+1,427,8009,06923,5450.76%+14,476
K&F GROWTH ACQ CRP; TNT ACQ DT: 11/05/2026; CASH: $10.05
SHS CL A
01,179,650+1,179,650011,7490.38%+11,749
ISHARES RUSSELL 1000 ETF036,450+36,450011,1810.36%+11,181
MOUNTAIN LAKE ACQ CRP; TNT ACQ DT: 6/13/2026; CASH: $10.050919,800+919,80009,2440.30%+9,244
AIFEEX NEXUS ACQ CRP; TNT ACQ DT: 3/5/2026; CASH: $10.000902,825+902,82509,0460.29%+9,046
FINANCIAL SELECT SECTOR SPDR
ST STR FINL ETF
203,075374,200+171,1259,81518,6390.60%+8,824
MAYWOOD ACQ CRP; TNT ACQ DT: 5/13/2026; CASH: $10.00
ORD SHS CL A
0854,761+854,76108,4790.27%+8,479
KKR INCOME OPPORTUNITIES FUND0676,301+676,30108,3120.27%+8,312
SPDR SER TR NUVN BR SHT MUNI
ST NUVE TERM ETF
552,763721,219+168,45626,19534,3301.11%+8,135
CO2 ENERGY TRANSITION ACQ CRP; TNT ACQ DT: 5/21/2026; CASH: $10.050721,246+721,24607,1550.23%+7,155
GSR ACQ CRP III; TNT ACQ DT: 8/7/2026; CASH: $10.0083,721716,696+632,9758287,1740.23%+6,346
TRIDENT ACQ CORP; TNT ACQ DATE: 11/30/19; CASH $10.20
COM CL A
0606,925+606,92506,1180.20%+6,118
BLACKROCK 2030 MUNICIPAL TARGET TERM TRUST(BTT)2,813,2803,012,742+199,46257,92563,9612.07%+6,035
ALLIANCE NATIONAL MUNICIPAL INCOME FUND0718,077+718,07707,7980.25%+7,798
BLACKROCK MUNIHOLDINGS CALIFORNIA QUALITY FUND(MUC)4,596,8815,029,383+432,50248,86553,8651.75%+5,000
BLACKROCK MUNIHOLDINGS NEW YORK QUALITY FUND INC1,551,8612,062,999+511,13816,04620,9390.68%+4,893
Rising Dragon Acquisition Corp320,775775,400+454,6253,2147,9010.26%+4,687
ISHARES TR CORE MSCI EURO
CORE MSCI EURO
440,012470,998+30,98623,75228,3310.92%+4,579
PLUM ACQ CRP IV; TNT ACQ DT: 7/15/2026; CASH: $10.100450,600+450,60004,5240.15%+4,524
BLACKROCK MUNIYIELD NEW YORK QUALITY FUND INC1,553,0522,017,756+464,70415,65520,0360.65%+4,382
COLUMBUS ACQ CRP; TNT ACQ DT: 1/22/2026; CASH: $10.00
SHS
0407,712+407,71204,0810.13%+4,081
BNY MELLON MUNICIPAL INCOME INC2,074,6972,501,319+426,62214,73017,9590.58%+3,229
WESTERN ASSET CLYM INFL SEC IN COM SH BEN INT
COM SH BEN INT
07,805,355+7,805,355065,1362.11%+65,136
LAUNCH TWO ACQ CRP; TNT ACQ DT: 01/7/2026; CASH: $10.050276,761+276,76102,8010.09%+2,801
AA MISSION ACQ CRP; TNT ACQ DT: 8/1/2026; CASH: $10.056,000,4536,043,528+43,07560,60563,0342.04%+2,429
RANGE CAPITAL ACQ CRP; TNT ACQ DT: 6/20/2026; CASH: $10.05
ORD SHS
0236,689+236,68902,3790.08%+2,379
STELLAR V CAPITAL ACQ CRP; TNT ACQ DT: 6/20/2026; CASH: $10.07
SHS CL A
0215,350+215,35002,1510.07%+2,151
RIBBON ACQ CRP; TNT ACQ DT: 1/15/2026; CASH: $10.000214,691+214,69102,1430.07%+2,143
BLEICHROEDER STREET ACQ CRP; TNT ACQ DT: 10/31/2026; CASH: $10.000206,130+206,13002,0630.07%+2,063
SIM ACQ CRP; TNT ACQ DT8/30/2024 7/12/2026; CASH $10.001,935,8012,103,425+167,62419,43521,4970.70%+2,062
BLACKROCK NEW YORK MUNICIPAL INCOME TRUST385,291580,390+195,0993,9265,9030.19%+1,976
LEGATO ACQ CRP III; TNT ACQ DT: 2/08/2026; CASH: $10.003,731,5853,837,341+105,75638,39840,2541.30%+1,856
CALAMOS GLOBAL DYNAMIC INCOME FUND(CHW)01,346,031+1,346,03108,6010.28%+8,601
SRH TOTAL RETURN FUND INC(STEW)444,244509,215+64,9717,1178,7840.28%+1,667
ISHARES LEHMAN 7-10YR TREAS416,176419,287+3,11138,47539,9871.30%+1,512
GIGCAPITAL 7 ACQ CRP; TNT ACQ DT: 05/29/2026; CASH: $10.00
ORD SHS CL A
1,764,0241,890,424+126,40017,64019,1310.62%+1,491
MELAR ACQ CRP; TNT ACQ DT: 6/18/2025; CASH: $10.00
SHS CL A
1,510,4161,633,263+122,84715,22516,7080.54%+1,483
LAUNCH ONE ACP CRP; TNT ACQ DT: 7/12/2026; CASH: $10.001,288,6501,409,675+121,02512,95014,3930.47%+1,442
VANGUARD FTSE PACIFIC ETF0339,211+339,211024,5790.80%+24,579
DWS MUNICIPAL INCOME TRUST02,373,160+2,373,160022,2600.72%+22,260
ROMAN DBDR ACQ CRP II; TNT ACQ DT: 12/17/2026; CASH: $10.05
ORD SHS CL A
0114,950+114,95001,1530.04%+1,153
NEW GERMANY FUND(GF)0446,429+446,42904,3790.14%+4,379
VANGUARD SHORT-TERM TAX-EXEMPT BOND ETF10,35020,050+9,7001,0382,0150.07%+978
TEMPLETON DRAGON FD INC COM0916,056+916,05608,8860.29%+8,886
VANGUARD INTL EQUITY INDEX FD FTSE EUROPE ETF0271,231+271,231019,0430.62%+19,043
VANGUARD INTL EQUITY INDEX FD FTSE EMR MKT ETF01,211,646+1,211,646054,8391.78%+54,839
BLACKROCK MUNIYELD QUALITY FUND II085,333+85,33308530.03%+853
ISHARES MSCI CDA ETF131,170150,158+18,9885,2866,1190.20%+833
BLACKROCK MUNICIPAL INCOME TRUST4,343,6004,408,579+64,97942,82843,6451.41%+817
NEWBURY STREET ACQ CRP II; TNT ACQ DT: 10/31/2026; CASH: $10.05
ORD SHS CL A
526,299590,599+64,3005,2105,9410.19%+731
ISHARES BRAZIL ETF124,975136,897+11,9222,8133,5390.11%+726
GABELLI DIVD & INCOME TR COM
COM
01,772,709+1,772,709042,7751.39%+42,775
MainStay CBRE GLOBAL INFRASTRUCTURE MEGATRENDS FUND0782,006+782,006010,4090.34%+10,409
CENTURION ACQ CRP; TNT ACQ DT: 6/13/2026; CASH: $10.0001,607,039+1,607,039016,4560.53%+16,456
LIONHEART HOLDINGS ACQ CRP; TNT ACQ DT: 6/18/2026; CASH $10.001,492,2501,524,050+31,80015,07215,6520.51%+580
ALLSPRING GLOBAL DIVIDEND OPPORTUNITY FUND664,593778,373+113,7803,3033,8530.12%+550
FUTURE VISION ACQ CRP II; TNT ACQ DT: 03/21/2026; CASH: $10.05488,919534,994+46,0754,9015,4460.18%+545
BLACKROCK MUNICIPAL INCOME QUALITY TRUST26,30076,709+50,4092858270.03%+542
PIONEER MUNI HI INC ADV TRST063,579+63,57905310.02%+531
BLACKROCK SCIENCE & TECH TR(BST)259,423300,768+41,3459,4859,9220.32%+438
DT CLOUD STAR ACQ CRP; TNT ACQ DT: 10/25/2025; CASH: $10.05351,586387,248+35,6623,5403,9650.13%+425
JAPAN SMALLER CAPTLZTN FD INC COM(JOF)0994,595+994,59508,3450.27%+8,345
IB ACQ CRP; TNT ACQ DT: 9/26/2025; CASH: $10.052,630,9072,618,457-12,45026,63826,9700.87%+332
MS CHINA A SHARE0617,811+617,81108,0810.26%+8,081
BLACKROCK MINVESTMENT QALITY MUNICIPAL TRUST026,327+26,32703020.01%+302
RF ACQUISITION CORP II. TNT ACQ DT: 11/21/2025; CASH: $10.0502,483,225+2,483,225025,7630.83%+25,763
ANDRETTI ACQ CRP II; TNT ACQ DT: 9/6/2026; CASH: $10.05302,350326,850+24,5003,0223,3110.11%+289
VINE HILL CAPITAL ACQ CRP; TNT ACQ DT: 6/26/2026; CASH: $10.05
ORD SHS CL A
60,89085,890+25,0006128720.03%+260
BLACKROCK MUNIVEST FUND II309,607333,128+23,5213,2663,5210.11%+255
WILLOW LANE ACQ CRP; TNT ACQ DT: 11/08/2026; CASH: $10.03
ORD SHS CL A
022,500+22,50002250.01%+225
SWISS HELVETIA FD INC COM(SWZ)275,120247,460-27,6602,0612,2820.07%+221
ABBVIE INC COM(ABBV)01,050+1,05002200.01%+220
AMGEN INC COM(AMGN)0680+68002120.01%+212
GP-ACT III ACQ CRP; TNT ACQ DT: 5/10/2026; CASH: $10.003,641,4643,608,177-33,28736,92437,1281.20%+204
SPDR S&P 500 ETF TR TR UNIT(SPY)1,1301,500+3706628390.03%+177
CHARLTON ASIA ACQ CRP; TNT ACQ DT: 04/24/2026; CASH: $10.0251,422,2281,423,492+1,26414,16514,3200.46%+155
JOHN HANCOCK T/A DVD INCOME0230,311+230,31105,5110.18%+5,511
VOYA GLBL EQTY DIV & PREM OPP COM
COM
02,154,853+2,154,853012,4340.40%+12,434
AIMEI ACQ CRP; TNT ACQ DT: 12/02/2024; CASH: $10.10
SHS
1,097,5521,079,107-18,44511,74411,8700.38%+126
MFS GOVT MKTS INCOME TR SH BEN INT(MGF)01,936,879+1,936,87906,1400.20%+6,140
BLACKROCK MUNIYIELD FUND, INC.118,498128,498+10,0001,2311,3560.04%+124
YHN ACQ CRP; TNT ACQ DT: 12/18/2025; CASH: $10.05865,697864,522-1,1758,7098,8180.29%+109
ALPHATIME ACQ CORP. TNT ACQ DT: 09/30/2023; CASH: $10.180342,567+342,56703,9770.13%+3,977
BLACKROCK MUN INC TRUST II3,898,4753,952,989+54,51440,97341,0721.33%+99
EQV VENTURES ACQ CRP V; TNT ACQ DT: 8/7/2026; CASH: $10.00701,650701,500-1507,0027,0990.23%+97
EUREKA ACQ CRP; TNT ACQ DT: 1/12/2026; CASH $10.00741,250740,200-1,0507,5317,6240.25%+93
OAK WOODS ACQ CRP; TNT ACQ DT: 3/24/2024; CASH: $10.175410,703410,70304,6614,7520.15%+90
BlackRock MuniHoldings New Jersey Quality Fund(MUJ)0303,280+303,28003,4120.11%+3,412
ISHARES EUROPE ETF0139,266+139,26608,1050.26%+8,105
GLOBAL LIGHTS ACQ CRP; TNT ACQ DT: 11/16/2024; CASH: $10.051,018,8101,006,135-12,67510,86110,9070.35%+46
CAYSON ACQ CRP; TNT ACQ DT:9/20/2025; CASH: $10.00263,856264,406+5502,6522,6970.09%+45
GOLDENSTONE ACQ CRP; TNT ACQ DT: 12/21/2023; CASH: $10.15438,691438,69104,9444,9880.16%+44
FOUR LEAF ACQ CRP; TNT ACQ DT: 3/17/2024; CASH: $10.300173,321+173,32101,9620.06%+1,962
LILLY ELI & CO COM(LLY)0680+68005620.02%+562
WESTERN ASSET MANAGED MUNICI0693,040+693,04007,1310.23%+7,131
CHURCHILL CAPTIAL ACQ CRP IX; TNT ACQ DT: 05/03/2026; CASH: $10.00
CL A SHS
60,00060,00006186470.02%+29
CONSILIUM ACQ CRP; TNT ACQ DT: 7/13/2023; CASH: $10.15185,050185,05002,1302,1580.07%+28
JOHN HANCOCK INCOME SECURITIES TRUST0165,285+165,28501,8740.06%+1,874
Page 1 of 1